All Articles
Crypto

Bitcoin Nears All Time Highs With Wall Street Piling In

May 21, 2024
x min read
Bitcoin Nears All Time Highs With Wall Street Piling In

Wall Street won’t stop buying spot Bitcoin ETFs. And it’s pushing the price of Bitcoin closer to new all time highs.

What’s happening:

  • The price of Bitcoin is approaching a new all time high amidst a surge in capital flowing in from spot Bitcoin ETFs in the United States

Why it matters:

By the numbers:

  • BlackRock’s spot Bitcoin ETF (NASDAQ: IBIT) broke a new record for trading volume in a single day of $1.2B USD
  • Recent 13-F filings from major funds and asset management companies showed that there are now more than 900+ institutions and hedge funds who have a significant ownership stake in spot Bitcoin ETFs in the United States

Going deeper:

  • Point72, Millennium Management, the Bank of Montreal, Wells Fargo, Hightower and the State of Wisconsin Investment Board were amongst some of the notable investors to be revealed to have exposure to spot Bitcoin ETFs

The intrigue:

  • Publicly traded companies are also continuing to buy Bitcoin, with Jack Dorsey led Block (NASDAQ: SQ) recently announcing they would begin buying Bitcoin with a portion of the total profits from their Bitcoin related operations

Discover the world's most disruptive early stage companies with 35,000+ investors.

The markets and trends that matter, made simple.

Join top talent at the world's most respected institutions, companies, and venture capital funds.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.